Plan: buy the weak open r/g. Since this had barley any pullback the prior two days, I didn't give it a lot of time to form a base - even though I deliberately wrote that on my trade plan as this strategy takes time to confirm the risk. I entered too soon and cut my loss, although looking at the support I should have been okay holding it. I was too trigger happy on this one.
Plan: looking for the ABCD setup pm on a perk and gear up. It was looking perfect so I went larger than normal which tightened my risk and ultimately made me take a loss on the trade. I reduced my position size to half before the market opened then cut the rest when the trade broke my pattern. I haven't earned the right to size up yet and didn't allow myself to be patient in the trade. Lessons, lessons, lessons.
This one was my pattern but I had a poor execution. I bought at the midrange of the perk that was holding for a few minutes. Since I did that my tight risk was taken out at the 1.46 dip and I watched the trade take off to 2 without me. I need to be okay with missing a trade versus forcing a bad entries and stops that are too tight... baby steps.
More mistakes today! Definitely not the pattern my brain convinced me it was.. and I took too much size again (accidentally since that is the default size of my broker) but I need to be more diligent in reviewing my trade before taking it. This was a revenge trade so before I trade I NEED to make sure I ask why I am entering and is this a trade I should be making.
Lots of mistakes on this one: I put on too much size for what I wanted to risk. Then.. I was early on my execution so I didn't let me pattern set up. If I waited, I would have seen it fail and it would have been a no trade. I've done this a couple of times now so I need to be more patient. 5 cents lower on a win is better than taking a loss.
Finally made a good trade and went back to my rules after a couple of FOMO trades. ABCD set up was perfect. I took 100 shares on a perk up. My goal was to sell into strength, learning from my past trades. I sold in 20 share increments at 4.25, 4.40, 4.80, 5.15 and nailed the top of the move @ 5.50. Now I just need to keep watching the stock after a good trade so I can capitalize on the rest of the move in the future.
Plan to buy weak open r/g. I didn't let the trade set up and was early on my first entry and took a $20 loss. I reentered @ 2.99 and should have sold when it went up to 3.50 (17% great trade!) but was greedy. I added 50 shares @ 3.33 thinking it would hold the previous b/o and didn't let it prove itself and ended up taking all 150 shares off @ 3.02. Lessons: Sell into strength.. you can always add more but take profits when you get a good move and DONT get greedy.